BusinessWeek's cover story this week is on that sinking feeling that happens when housing prices fall. (Read it.) Economists often refer to this as the greater fool theory, and they apply it to assets prices in general (not simply housing).
Monday, October 15, 2007
Class Description
Prequisites: EC 221, 222. Topics in monetary policy, theory, monetary standards, the origin of money, financial markets, interest rates, time preferences, the history of banking, the commercial banking system, central banking, and the Federal Reserve System are covered. This web site includes questions, problems, news items, and analysis that pertains to class discussions, as well as other announcements and notes.
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